Ontario Government Selects Rentech's New Renewable Jet Fuel Project for Long-Term Supply of Biomass from Crown Forests

Olympiad Renewable Energy Centre has been selected to supply up to 1.1 million cubic metres (1.3 million U.S. tons) per year of Crown timber for the sustainable production of renewable RenJet jet fuel.

Michael Gravelle, Ontario Minister of Northern Development, Mines and Forestry, said, “Today's global business model drives companies to locate their businesses where they find the best combination of talent, cost efficiencies and capacity for efficient manufacturing infrastructure. That's why Ontario has become the location of choice for many companies that are expanding globally. The Ontario government works continually to increase the province's competitive advantages in attracting investment. We are delighted to welcome Rentech’s expansion to Northern Ontario and commend the spirit of partnership and inclusiveness through which they have already built foundations for strong relationships with northerners and First Nations peoples.”

Mr. Ramsbottom added, “Having our project selected in the Provincial Wood Supply Competitive Process for a proposed large, sustainable feedstock supply from the Ontario government is a significant achievement and step forward for our renewable energy project. We will be working closely with SDTC, First Nations, and other partners to secure project financing. SDTC’s funding opportunity played a key role in Rentech’s decision to pursue a large-scale renewable energy facility in Northern Ontario. We’re encouraged by the Government of Canada’s commitment to commercializing renewable energy projects.”

“Rentech’s renewable fuels project proposal is an example of how the SDTC NextGen Biofuels Fund can provide real support to the commercialization of new and advanced biofuel technologies,” said Vicky Sharpe, President and CEO of Sustainable Development Technology Canada. “We look forward to working closely with Rentech as its application advances to the next stage of consideration.”

Working with the Province of Ontario and White River, Rentech has forged a significant partnership with the Pic River First Nation for up to an 18 per cent equity interest in the project. The Pic River partnership is expected to create significant opportunities for the Aboriginal community through job creation and advanced skills training. Other Aboriginal communities, such as the Pic Mobert First Nation, will benefit from regional opportunities as well.

Mike Brown, MPP for Algoma-Manitoulin, said, “I’m delighted that Rentech has chosen this hard-working and progressive community as the location for the first project of this kind anywhere in the world. I look forward to further opportunities for the forest sector that may arise from having such a leading-edge facility in our region.”

Chief Roy Michano of Pic River First Nation commented, “Communities such as Pic River and White River that have withstood the industry shift from traditional pulp, paper and sawmills to new uses for Ontario’s forests now have a renewed sense of hope. We are pleased with our partnership with Rentech, a very forward thinking company that has embraced First Nations as an integral part of such an ambitious project. Finally, to the Minister of Northern Development, Mines and Forestry, we are truly thankful for Ontario’s continued support of our energy and forestry programs in Pic River. Much of our success has been built on this continued support.”

The project would bring much needed employment to a region that has suffered significant job losses in recent years and revitalize a struggling forestry sector, while contributing to Ontario’s growing high-tech bio-energy economy. The project would leverage local sustainable forestry expertise, employ an estimated 83 full-time employees and create over 300 indirect and induced positions. During peak construction, Rentech expects the project to employ up to 1,000 workers.

Mayor Angelo Bazzoni of White River commented, “I am very pleased to bring Rentech's new technology to the Superior East Region of Northern Ontario. More specifically, I am excited to welcome Rentech to White River, Ontario, and Canada. This project will put the region’s wood fibre to work. This will create much needed employment and be an excellent opportunity for our Community and First Nation neighbours and Rentech. Our commitment is to continue to work with our provincial and federal governments and Rentech to introduce this technology to White River and the province to produce renewable jet fuel.”

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